Iran is close to becoming self-sufficient in producing jet fuel with the
renovation of Abadan Oil Refinery, the oldest crude oil treatment facility
in the Middle East.

Next week, Iran’s President Mahmoud Ahmadinejad is expected to inaugurate
the final phase of the development of Abadan Refinery in the southwestern
province of Khuzestan.

Along with the Residual Fluid Catalytic Cracking (RFCC) unit which will also
come on stream at Shazand Refinery in central Iran to mark the anniversary
of the 1979 Islamic Revolution in early February, Abadan Refinery will be
producing 30 million liters per day (mlpd) of gasoline conforming with
Euro-4 and Euro-5 standards.

Iran is currently a leading producer of jet fuel for passenger and cargo
planes. The gasoline production unit of Abadan Oil Refinery would allow the
production of fuel for helicopters, crop dusters and trainers.

The alkylation unit of Abadan Refinery is forecasted to produce 2 mlpd of
fuel for helicopters.

Deputy Minister of Oil Alireza Zeighami said the Abadan Refinery upgrade
would enhance the country’s gasoline octane to 95, raise sulfur and
liquefied gas, and cut fuel oil production to 2.7 mlpd in the facility.

He put at nearly one billion dollars the total costs for design,
manufacturing, installation and operation of the project and an adjacent
power plant.

Iran plans to inaugurate three mega-projects at Shazand, Lavan and Abadan
refineries by the end of the current Persian calendar year (ending March 20,
2013) to enhance the production of the country’s premium gasoline from 12
mlpd to 25 mlpd.

Iran attained self-sufficiency in fuel production after its international
suppliers stopped selling gasoline under US pressure.